[Updated] Bank Holidays in March 2023 List

RBI has released the complete list of Bank holidays for the month of March. There are only a few public holidays in this month, such as Panchayati Raj Diwas, Holi, Bhagat Singh Martyrs Day, Sarhul Ramnavmi, etc., aside from the second and fourth Saturdays. However, not all banks in the public and private sectors will be closed on these days.

About March

Both the Julian and Gregorian calendars place the month of March as the third of the year. The first month of the earliest Roman calendar, Martius is where the name March originates. Mars, the Roman god of war and ancestor of the Roman people through his sons Romulus and Remus, was the inspiration for the name. In the Northern Hemisphere, spring officially begins on March 20 or 21. In the Southern Hemisphere, autumn officially begins in September, which is the seasonal equivalency of March in the Northern Hemisphere.

Bank Holiday in February 2023 List

Bank Holidays in March 2023

A total of 8 Bank Holidays will be observed in March excluding the second and fourth Saturday of the month and Sundays. It is to be noted that not all banks in all areas observe these holidays. Check the table below for bank holidays in March 2023:

All Indian banks are required to remain closed on the second and fourth Saturdays of each month as well as every Sunday in accordance with Reserve Bank of India regulations. Whereas, every month's first, third, and fifth Saturdays will remain active as usual.

Important Bank Holidays March 2023

Chapchar Kut: Chapchar Kut literally translates to "a festival held during the time when the cut-down bamboo and trees are being anticipated to dry before being burned for jhumming." The Mizo ancestors could have the entire time to themselves during this brief period of jhumming layoff.

Panchayati Raj Diwas: The illustrious former chief minister of Odisha Biju Patnaik's birthday is honored on this day. When panchayat elections were finally held in the nation in 1992, Patnaik brought back Panchayati Raj.

Doljatra: Lord Krishna is the subject of the festival. On that day, a palanquin carrying a Krishna idol is brought out in a procession. Given that Chaitanya Mahaprabhu, a revered Vaishnava saint, celebrates his birthday on this day, Bengalis attach greater significance to the festival.

Holi: One of the most revered and cherished holidays in the nation is the Holi festival. It is widely regarded as the "festival of colours" and greatly improves people's lives. Holi additionally strengthens the secular fabric of the nation and unites society.

Yaosang 2nd Day: The festival, which is observed in Manipur, is a special version of Holi. The festival, which is observed by the neighborhood Meitei, links the past and present. Up until the 15th century, Yaosang was a harvest festival. However, the festival was changed into a Hindu one that is devoted to Krishna at that time because Hindu preachers were beginning to spread Vaishnavism in the state.

Martyr's Day: It is observed on this day to honour the sacrifices made by the Indian revolutionaries Bhagat Singh, Sukhdev Thapar, and Shivaram Rajguru. The British hanged the three young revolutionaries to death. They still serve as an example for the younger generation.

Sarhul: In the Indian state of Jharkhand, there is a spring festival called Sarhul. The festival is observed for three days, from Chaitra Purnima to the third day of the Chaitra month in Sukla Paksha. Pahan, the village priest, sacrifices flowers, fruit, vermilion, a rooster, and Tapan (alcohol) to Sun, the festival's patron god and ancestor, in order to bring the village good fortune. Then the locals dance while holding sal tree flowers. It serves as a reminder that a new year has begun. The marriage of the Earth and the Sun is also symbolized by it, according to tradition.

Ram Navami: Ram Navami honours the Treta Yuga birth of Lord Ram to King Dasharath and Queen Kausalya in Ayodhya. On the ninth day of Chaitra month, the first month of the Hindu lunar calendar, a spring festival is held. People honour Lord Ram, also known as "Maryada Purushottam," on this day by making offerings to him in temples and pleading with him to lead them.

Ugadi: Beginning is what Ugadi, also spelled Yugadi, means. While adi means "the beginning of something," yuga denotes a period. Like every other New Year's Day, Ugadi signifies a new beginning for each person. The purpose of the holiday is to welcome the new year with joy and the blessings of the gods. By performing rituals like oil baths, housecleaning, and worship, people mark the day.

However, the use of other banking services or conducting financial transactions is not a concern for customers even on bank holidays. IMPS, NEFT, UPI, ATM services, net banking, mobile banking, and other banking-related services are all readily available on all bank holidays in March 2023.

Check other important days in February 2023